Shares of Waaree Energies Ltd rallied 4% on 11 June after the company’s wholly-owned subsidiary, Waaree Solar Americas, received a large order for 599 megawatts (MW) of solar modules from a famous international client.

In a BSE filing, the company announced, “Waaree Solar Americas, a wholly-owned subsidiary of the company, has received an order for the supply of 599 MW solar modules from a well-known customer engaged in the development and operation of utility-scale solar and energy storage projects across the United States.”

Waaree Energies has emerged as a key player in India’s solar energy sector, holding the distinction of being the country’s largest solar PV module manufacturer. The company currently accounts for nearly 44% of India’s solar module exports and fulfils about 21% of the nation’s domestic demand. Waaree has significantly expanded its production capacity, scaling up from 2 GW to 13.2 GW, which is a remarkable growth trajectory that underscores its dominant position in the industry.

Waaree’s improved margins and return on equity (RoE) position the company for future growth.

Waaree Energies, founded in December 1990, is an Indian maker of solar PV modules. In March 2025, promoters owned a 64.30% share in the solar module manufacturer. The Mumbai-based company has an installed capacity of almost 15 GW for solar PV modules and 5.4 GW for solar cells.

At 2:30 pm, the shares of Waaree Energies were trading 0.94% higher at Rs 2,864.60 on NSE.

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